*Important Information: The project approval status and rates shown above are tentative and subject to change from time to time. Loans granted at sole discretion of the bank subject to eligibility, diligence, terms and conditions of respective banks. Not all towers, floors and flats may be approved by each bank and hence it is important to check approval status of exact property. Use the apply now link to leave details and confirm exact project approval status.

Determined by income, current debt, age, retirement age, number of co-borrowers, maximum loan to value, etc.

Determined by income, current debt, age, retirement age, number of co-borrowers, maximum loan to value, etc.

Borrower Age at Time of Sanction

Between 21 and 60 (or age of requirement, if lower)

Between 21 and 65

Borrower Age at Time of Maturity

Upto 60 (or age of requirement, if lower)

Upto 65

CIBIL Score, Credit History

Typically, a clean CIBIL record with a score above 700 is desirable

Typically, a clean CIBIL record with a score above 700 is desirable

Minimum Income

Some banks specify minimum income to be eligible for loans

Some banks specify minimum income to be eligible for loans

Employment Track Record

Typical requirement of at least 2 years in permanent employment and at least 1 year in current organization, but this varies on a case to case and bank to bank basis. Register your query with MyLoanCare to check this in your case.

*Myloancare is a bank neutral platform and channel partner of multiple banks and lenders. Myloancare does not represent any government, government body, regulator, bank, lender or credit information bureau. Information carried at this website is based on perusal of public sources, is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information, FAQ’s, graphics, images, text, and/ or various tools and calculators (together called “Information”) carried at the website. Lenders/ banks may contact us at info@myloancare.in to provide corrections or updates.

CRISIL, a leading credit rating agency, has kept a positive outlook on home loan securitization in the post demonetisation market scenario. Mortgage backed securities with their long tenures and low delinquency rates are expected to continue attracting long term investors. Volumes in mortgage backed securities have already touched Rs. 19,000 crore in first half of 2016-17, significantly higher than the annual volumes of Rs. 15,000 crore registered in 2014-15.

JM Financial Products, a subsidiary of JM Financial Limited, has completed an acquisition of 24.5 percent stake in India Home Loan Limited. The company has acquired 1,500,000 shares through preferential allotment route. India Home Loan provides home loan to individuals and families in the affordable housing segment.

05th Dec 16 IDFC Bank reduces its home loan rates by 10 basis points

IDFC Bank has reduced its simple home loan rate by 10 bps to 9.15 percent from 9.25 percent earlier. Revised short and sweet home loan rate has been reduced to 9.30 percent from 9.40 percent earlier. Home loan rate of IDFC Bank depends on six month MCLR rate which currently stands at 9 percent. The rates are effective from 1st December, 2016.

01st Dec 16 Government plans to launch a home loan scheme for first time borrowers in the upcoming Union Budget 2017

Government and RBI are working jointly to launch a new home loan scheme for first time borrowers. Under the proposed scheme, first time borrowers availing home loan of up to Rs 50 lacs might be able to avail home loan at low interest rates in the range of 6 to 7 percent. The scheme is proposed to be announced in the upcoming Union Budget 2017 scheduled on 1st February, 2017.

27th Nov 16 Demonetisation raises hope of cheaper home loans

Even as the secondary market for houses and developer-built small properties has come to a standstill, banks expect stability to be restored in the property market once home loan interest rates get reduced. Demonetisation is expected to bring in more deposits to banks and give them flexibility in reducing interest rates on various loan products.

*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.